FOR IMMEDIATE RELEASE                           FOR FURTHER INFORMATION CONTACT:
                                                William M. Tandy,
                                                President & CEO
                                                (270) 821-7211




                          COMMUNITY FIRST BANCORP, INC.
                             ANNOUNCES DATE OF FIRST
                         ANNUAL MEETING OF STOCKHOLDERS



     (Madisonville,  Kentucky - January 23, 2004) Community First Bancorp,  Inc.
(OTCBB:CFBC)  today  announced  that it would hold its first  annual  meeting of
stockholders  on May 20,  2004.  Community  First  Bancorp,  Inc. is the holding
company for Community First Bank headquartered in Madisonville, Kentucky.